The cryptocurrencies face a new challenge as the US regulators They set their sights on the market. In a setback for the crypto ecosystem, the market saw its total capitalization drop 1.3% compared to the previous day, according to niche site Coingecko.
Bitcoin (BTC), the undisputed protagonist of the crypto world, lost a key mark, generating neutral sentiment among investors. He Fear and Greed Index, that analyzes the behavior of investors, recently reached 53 points, reflecting this uncertainty.
A bill that seeks regulate the token market was introduced by US lawmakers, further accentuating the setback in the crypto quotes.
The main objective of this initiative is to establish a clear and defined regulatory framework for cryptocurrenciesoffering investor protection and combating fraudulent activities.
Under the proposed bill, cryptocurrencies offered as part of an investment contract would come under the supervision of the United States Securities and Exchange Commission (SEC).
On the other hand, those cryptocurrencies that are considered basic products would be subject to the supervision of the Commodity Futures Trading Commission (CFTC).
This news has generated an impact on the market, since investors and participants in the crypto ecosystem are evaluating the implications and repercussions that this regulation could have in the future.
During the weekend, the Bitcoin (BTC) price it fell from $27,000 to around $26,700, reflecting an immediate reaction to regulatory news.
At the time of writing this note, the most popular cryptocurrency on the market is trading at $26,784.16, which represents a decrease of 1.5% in the last 24 hours. Experts point out that investors show a lack of initiative to control trends, generating a panorama of uncertainty in the market.
The impact of this bill has also been felt in Ethereum (ETH)the second most relevant cryptocurrency on the market.
Although ethereum has maintained its base mark, has experienced a drop in its price in the last 24 hours. Currently, it is trading around $1,870which represents a decrease of 1.8% compared to yesterday’s data.
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